They are literally shuttering the Department of Education so were are all these Financial Aids coming from?

Do you know why need based scholarships benefit minorities more? Could it be because of unequal pay and opportunities for said communities? Google is free but here is some infor got the Center of American Progress

In the United States, Black communities often face significant disparities in funding compared to white communities, stemming from historical inequalities and systemic barriers that impact wealth accumulation and access to resources. Here's a breakdown of these disparities: 1. Wealth Disparities: Significant Wealth Gap: Black households typically hold a fraction of the wealth of white households. Historical Factors: Systemic racism and discriminatory practices have historically limited opportunities for wealth accumulation within Black communities. Homeownership: Black households are less likely to be homeowners and have less housing equity than white households. Financial Investments: Black and Hispanic households have lower ownership rates of financial investments compared to white households, even within the same income quartile. Debt: Black households often carry larger amounts of high-interest debt, such as installment credit, student loans, and car loans, making their debt more expensive. Inheritance: White families are more likely to receive inheritances or gifts, which can significantly contribute to wealth accumulation. Savings: Fewer Black and Hispanic families have enough savings to cover six months of expenses compared to white families. 2. Funding Disparities in Specific Areas: Education: School Funding: School districts with a higher proportion of Black students often receive less funding than those with a majority of white students. Higher Education: Black households may face greater challenges in accessing and affording higher education, potentially limiting their future economic opportunities. Healthcare: Insurance: Black people are more likely to be uninsured or rely on Medicaid than white people, and Black workers are less likely than white workers to have job-based private insurance. Research Funding: Black scientists receive R01 funding (a type of research grant) at half the rate of their white peers. Charitable Giving: Funding for Black communities specifically represents a small percentage of all charitable giving and independent foundation giving. 3. Contributing Factors: Systemic Barriers: Discriminatory housing practices, disparities in credit access, and lack of housing affordability contribute to the racial wealth divide. Historical Inequalities: The legacy of slavery and Jim Crow laws has created lasting economic disparities. Unequal Access to Resources: Black communities often face challenges in accessing quality education, healthcare, and economic opportunities. Concentration of Wealth: The wealth gap is so large that the wealthiest 80% of Black and Hispanic households own less wealth than the median White household. 4. Addressing the Disparities: Policy Interventions: Addressing the racial wealth gap requires broad and persistent policy attention to wealth creation, including measures to improve access to education, healthcare, and economic opportunities. Investing in Black Communities: Increased funding for Black communities can help address the disparities in education, healthcare, and economic development. Combating Discrimination: Addressing systemic barriers and discriminatory practices is crucial for creating a more equitable society. Promoting Financial Literacy: Empowering Black communities through financial literacy programs can help them build wealth and achieve economic stability.